Moby, the "Extreme Ways" hitmaker, has reportedly sold off his tiny New York City apartment at Mott Street for an approximate profit of $1.5 million.
Spanning an area of just 950-square-feet, the petite place sold for $2.05 million, reports TMZ.
Listing records show that the house was listed with Corcoran.com for $1.95 million and if the website is to be believed, the home sold about 10 times the price he bought it for.
Moby reportedly purchased the studio-like penthouse apartment in 1996 for just $215,750. The house has one bedroom and one bathroom, a kitchen area and upper level terrace area.
Interiors of the residence feature tiled flooring, high ceilings and large glass windows. There is a ladder that leads up to the elevated bedroom area, which has hardwood flooring and vaulted wooden ceilings. The upper level terrace, which has ample seating area, can be reached through another ladder. The terrace offers panoramic views of the city.
The kitchen in the house is a handy, efficient space with maple cabinets and countertops. Moby once gave Epicurious.com a tour of his tiny kitchen. Check the video out below:
According to Gothamist.com, Moby now lives in a huge mansion in Los Angeles. He sold his Bond Street penthouse in 2012 for $5.8 million and also unloaded his Upper West Side residence for $7.5 million. Moby was born in New York City and raised in Connecticut. However, he has spent most of his adult life in the Big Apple.
Check out photos of the home here.
The notable profit that Moby earned on his apartment's sale echoes the rising demand for tiny apartments and small studio units in New York City.
"Studio apartments represent a small share of units built over the last year, but they've been flying off the shelves," said Erica Champion, senior real estate economist with CoStar's PPR, in a statement adding that the younger generation is opting to rent or buy smaller apartments rather than large single-family homes.
Builders are also trying to meet the bubbling demand. According to Curbed, about 7,000 new apartments are on the rise in the city.
"We're going to have a smattering of what we call micro studios, which are about 400 square feet," Mack Cali, president of Mack-Cali Realty added in the statement comparing these spaces to large closets.
